WHUT (Howard University Television)
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Feb 15, 2010
02/10
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i think what chairman bernanke was doing was talking about a plan. and how, when it's time will the fed be able to drain reserves so people have the confidence to know that if they get worried, they can, you know, take the reserves out of the system so you don't have inflation. i like to draw the analogy t is very much what the president is doing with his budget, at the same time that he is saying we need to do some more energy spending to create jobs, sort of those targeted measures, we need to put in place a plan for as we come back to full employment, how do we deal with the budget deficit. that is exactly what he is talking about wi the fiscal commission, the nondiscretion-- or the discretionary spending freeze, those are all sort of part of the plan pore when we are through this thing. >> most people think that this is recovery is a bit off in terms of getting back to where we might want to be. an when they say that, i am interested in at do they mean in terms of unemployment, in terms of gdp, in terms of this, this conflict between a deficit an
i think what chairman bernanke was doing was talking about a plan. and how, when it's time will the fed be able to drain reserves so people have the confidence to know that if they get worried, they can, you know, take the reserves out of the system so you don't have inflation. i like to draw the analogy t is very much what the president is doing with his budget, at the same time that he is saying we need to do some more energy spending to create jobs, sort of those targeted measures, we need...
WHUT (Howard University Television)
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Feb 4, 2010
02/10
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WHUT
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where did you look back and say "that was the wrong call, by me, geithner, bernanke"? >> charlie i've thought about this a lot and i'm going to give you a number of mistakes i think i was involved in making. but the in 20/20 hindsight, the major decisions we made, i'm totally convinced, were the right calls and they were made in the face of unprecedented challenges with really imperfect tools without the authorities we needed in the middle of a very challenging political period with an election coming. and the reason i they is they worked and they prevented the collapse. so most of what is cited as mistakes were really things we had no control over. for instance, i would like to have seen the a.i.g. problem coming earlier. but there was no regulator that had responsibility for the whole institution and we just didn't have a clear line of sight and we didn't... we didn't have the information. i do not want to have lehman fail. i knew that would be a bad thing and we worked very hard to prevent it. but we didn't he the authorities to prevent the failure of he plan. ... l
where did you look back and say "that was the wrong call, by me, geithner, bernanke"? >> charlie i've thought about this a lot and i'm going to give you a number of mistakes i think i was involved in making. but the in 20/20 hindsight, the major decisions we made, i'm totally convinced, were the right calls and they were made in the face of unprecedented challenges with really imperfect tools without the authorities we needed in the middle of a very challenging political period...
WHUT (Howard University Television)
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Feb 19, 2010
02/10
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WHUT
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assumption over time based on the sides deficits that we're talkingng about. >> and banked on what bernanke -- >> we can debate how quickly and fast but here is the key. even if they don't go up, the single largest line item in the federal budget within 12 years will be interest on the federal debt. larger than defense. larger than medicare. larger than social security. what do weit get for that? nothing. and we have all agreed that they're going to go up. we can debate when and how muchm >> ok. >> i'm really -- i really hate that calculation.ti i share your concerns. i really hate that calculation.i take the obama budget, i happen to know the numbers. it. says in 10 years we will be spending 3.5% of gdp on interest payments. when did we last do that? when george bush was president. it wasn't catastrophic then and it isn't now. those interest payments -- if that is all that is going to happen, we could handle it easily is whether there there does come to see the united states as being greece. >> you said those people who hold a lot of american debt are beginning to get nervous because we're
assumption over time based on the sides deficits that we're talkingng about. >> and banked on what bernanke -- >> we can debate how quickly and fast but here is the key. even if they don't go up, the single largest line item in the federal budget within 12 years will be interest on the federal debt. larger than defense. larger than medicare. larger than social security. what do weit get for that? nothing. and we have all agreed that they're going to go up. we can debate when and how...
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Feb 24, 2010
02/10
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CNBC
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see how bernanke characterizes that. if that weren't enough drama this is bernanke's first testimony since winning confirmation by the senate in january. and there is still plenty of anger on the hill about the bailouts and debate about the fed's role in the new regulatory world which is still under discussion in washington. the mix of tightening talk, easy money walk, economic outlook, populist anger should make for a compelling couple hours not to mention, mark, the s&p auction rick mentioned, bond auction later in the day, toyota, and now bernanke. an interesting day, mark. >> thank you very much, steve liesman. >>> toll brothers reporting narrower than expected quarterly loss. shares higher in premarket. next, we will go inside those toll brothers numbers. >>> plus the bernanke testimony steve referred to. possibly new short selling rules for the market. new home sales. the president meeting with top business leaders. it's all on "squawk on the street" plus of course the toyota testimony. >> which brings us to our st
see how bernanke characterizes that. if that weren't enough drama this is bernanke's first testimony since winning confirmation by the senate in january. and there is still plenty of anger on the hill about the bailouts and debate about the fed's role in the new regulatory world which is still under discussion in washington. the mix of tightening talk, easy money walk, economic outlook, populist anger should make for a compelling couple hours not to mention, mark, the s&p auction rick...
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Feb 25, 2010
02/10
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CNBC
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bernanke will avoid mngzing the timing of a rate hike. he told a house panel on wednesday that rates will continue to remain low for an extended period. this is coming at the same time that president obama will square off with lawmakers today in a last ditch effort to salvage his health care reform plan. republicans and democrats will meet at the blair house for a nationally televised health care summit beginning at 10:00 a.m. leaders will discuss four major themes, controlling costs, insurance reforms, cutting the deficit and sxabding health care coverage. treasury secretary timothy geithner meeting with financial industry groups today at 11:00 a.m. new york time and this comes as it's said the obama administration is close to saving a reform bill. reports say geithner met with bankers on wednesday night to discuss the matter. >> toyota closed down 0.2% after staying in positive territory. overnight, the company's president apologized to u.s. congress and millions of toyota drivers over its recent safety issues. and speaking to employees
bernanke will avoid mngzing the timing of a rate hike. he told a house panel on wednesday that rates will continue to remain low for an extended period. this is coming at the same time that president obama will square off with lawmakers today in a last ditch effort to salvage his health care reform plan. republicans and democrats will meet at the blair house for a nationally televised health care summit beginning at 10:00 a.m. leaders will discuss four major themes, controlling costs, insurance...
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Feb 10, 2010
02/10
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WETA
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stocks edged lower after those comments from ben bernanke. the dow lost 20 points, the nasdaq fell three points, and the s&p 500 dropped two points. speaking of the dow, the 114- year-old index has a new owner: the c.m.e. group. the chicago exchange is joining forces with dow jones, for dow's stock indexing business. the deal's worth $675 million and gives the c.m.e. a 90% stake, with dow jones and its owner newscorp keeping the rest. german politicians, euro zone finance ministers, and french president nicholas sarkozy spent the day working on the greek issue. so far, no decision on how to handle greece's debt. the issue tops the agenda at tomorrow's summit of european union leaders in brussels. treasury secretary timothy geithner says the u.s. financial system is healing, but there's a lot of repair work ahead. his comments came from a prepared statement summing up how the administration worked to stabilize financial markets over the past year. still ahead, will airlines stocks soar higher this year? we ask our "street critique" guest juliu
stocks edged lower after those comments from ben bernanke. the dow lost 20 points, the nasdaq fell three points, and the s&p 500 dropped two points. speaking of the dow, the 114- year-old index has a new owner: the c.m.e. group. the chicago exchange is joining forces with dow jones, for dow's stock indexing business. the deal's worth $675 million and gives the c.m.e. a 90% stake, with dow jones and its owner newscorp keeping the rest. german politicians, euro zone finance ministers, and...
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Feb 24, 2010
02/10
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CNBC
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bernanke. >> at this point to the smaller and regional banks, as you point out, if those banks have their capital deplete order if they go out of business, that will affect the supply of credit so that affects our economy as well. so that's a very important problem. i think from the federal reserve's point of view, there are basically two kinds of things we can do. first of all, we can support the economy and that makes people go shopping in shopping malls or willing to new employment fills up office buildings and obviously we're trying to support the recovery. the other thing we can do is to work together in the market. we've done those things along those lines. we've had the program which has been successful in getting the interest rates on commercial mortgage-backed securities down somewhat and reduced those spreads. we have issued guidance on commercial real estate loans where we tried to work with banks so that they can restructure troubled loans, so that they can continue to be performing
bernanke. >> at this point to the smaller and regional banks, as you point out, if those banks have their capital deplete order if they go out of business, that will affect the supply of credit so that affects our economy as well. so that's a very important problem. i think from the federal reserve's point of view, there are basically two kinds of things we can do. first of all, we can support the economy and that makes people go shopping in shopping malls or willing to new employment...
WHUT (Howard University Television)
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Feb 12, 2010
02/10
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. >> do you think geithner in this administration and the previous administration, geithner and bernanke and larry summers have done a good job in hemming the financial sector as well as -- >> you know, 2020 hindsight is a specialty in this country and now we're having all kinds of hearings. but at the time this thing hit us in a significant way, those guys were working 18, 19 hours 0 day. they were making decisions with the information that they had available. they made mistakes. but the bottom line is, the system is still working. we are making progress. >> and we averted disaster. >> we averted two or three disasters. and i, therefore, applaud what they did, and if you notice, we support what they did. were there errors? sure. >> did i make judgments that weren't perfect? you bet. >> what does the chamber think about the boca rules. >> chairman volkert is a very smart man. and he raises a thoughtful argument. that press conference with the volkert rules and things the political guys threw in that was not naferred by geithner and sumners. but the volkert rules make since with one excep
. >> do you think geithner in this administration and the previous administration, geithner and bernanke and larry summers have done a good job in hemming the financial sector as well as -- >> you know, 2020 hindsight is a specialty in this country and now we're having all kinds of hearings. but at the time this thing hit us in a significant way, those guys were working 18, 19 hours 0 day. they were making decisions with the information that they had available. they made mistakes....
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Feb 26, 2010
02/10
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WMPT
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ben bernanke suggested we'd be better off if china saved less and we saved more. tonight's commentator is also worried about our largest trading partner. he's leo hindery, managing partner at inter-media partners, and chairman of the u.s. economy smart globalization initiative at the new america foundation. >> america's great recession has turned into china's great opportunity. american companies have cut both their payrolls and their capital spending and have driven business to china at the same time that chinese manufacturers are boosting their global competitiveness through massive subsidies from their central government. in just the last year, chinas share of our nations trade deficit in manufactured goods jumped from 69% to an almost unbelievable 80% today, while its share of u.s. imports overall increased 20%. no responsible american economist disagrees with president obama's assessment that china's currency is significantly undervalued compared to the u.s. dollar. yet currency manipulation is actually just the tip of the chinese trade iceberg. something on
ben bernanke suggested we'd be better off if china saved less and we saved more. tonight's commentator is also worried about our largest trading partner. he's leo hindery, managing partner at inter-media partners, and chairman of the u.s. economy smart globalization initiative at the new america foundation. >> america's great recession has turned into china's great opportunity. american companies have cut both their payrolls and their capital spending and have driven business to china at...
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Feb 3, 2010
02/10
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bernanke. >> no. he was appointed by bush. i'm not a fan of bush. if you want to compare it, obama's worse, but neither was good. >> michael, let me ask you this. >> clinton was spectacular. >> let me ask you this question. we need capital, jobs and labour d day. do you agree? >> i do. >> why raise the tax rates on capital which is what you are doing with top end investors and workers? why not promote more capital to promote more labor? i would lower the payroll tax rate or the 28% rate and maybe the 15% income tax. in other words, isn't this a moment when we want the liquidity to stay in the private sector and all the incentives for growth we can get? >> larry, we need to bring down the deficit. you agree with that, we all agree. the long-term deficits which are not driven by a major spending growth under president obama. they are driven by long-term trends -- >> mr. obama hasn't raised spending? >> most of the new spending that happened in 2009 happened under president bush. >> did i miss the $850 billion stimulus -- >> it was -- larry, it was $80
bernanke. >> no. he was appointed by bush. i'm not a fan of bush. if you want to compare it, obama's worse, but neither was good. >> michael, let me ask you this. >> clinton was spectacular. >> let me ask you this question. we need capital, jobs and labour d day. do you agree? >> i do. >> why raise the tax rates on capital which is what you are doing with top end investors and workers? why not promote more capital to promote more labor? i would lower the...
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Feb 25, 2010
02/10
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>> i'm going to be talking about bernanke. . i think becky's selling it short saying it's a repeat performance. i like yours better. >> how am i selling this short? >> i don't i think it's a repeat in that it's the same thing. >> you think he's going to make news and say something different? >> it's a little different. he heads into day two of the testimony today. it's the sem any annual testimony to congress. he delivered a clear message on rates yesterday. they will stay low for several months. overlooked in that testimony yesterday, and sure to get more attention today, beck y was fed chairman's pitch to keep the fed as a major banking regulator. the senate is considering stripping those powers as part of a broader overhaul of the banking powers now in the state. >> the crisis has once again done straighted the federal reserve's ability to identify and address diverse and hard to predict threats to financial stability, depends critically on the information, expertise and powers that it has by virtue of being both a bank super
>> i'm going to be talking about bernanke. . i think becky's selling it short saying it's a repeat performance. i like yours better. >> how am i selling this short? >> i don't i think it's a repeat in that it's the same thing. >> you think he's going to make news and say something different? >> it's a little different. he heads into day two of the testimony today. it's the sem any annual testimony to congress. he delivered a clear message on rates yesterday. they...
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Feb 25, 2010
02/10
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bernanke's testimony gave wall street a boost yesterday. the dow finished up 91 points closing at 10,374. the nasdaq gained 22 points to close at 2235. >>> chrysler is voluntarily recalling more than 350,000 minivans because of problems with crash sensors that control the air bags. the company says it will replace the sensors in 2005 and 2006 town and country and dodge caravans. but chrysler says it should wait until june to contact dealers because it needs time to distribute the replacement parts. >>> it appears to be the end for hummer. gm says it will shut down the brand, unless a last-minute buyer emerges. hummer employs about 3,000 people in the u.s. >>> as you know "avatar" helped 3-d go mainstream. now, moviegoers are bracing for a flood of these films. movie chains will cover the cost of converting nearly half of the nation's screens to 3-d technology. three 3-d movies are due out in just the next two months. >> soon, we'll have our own specialized glasses we take to the theaters. >> have to start investing in those. >>> coming up n
bernanke's testimony gave wall street a boost yesterday. the dow finished up 91 points closing at 10,374. the nasdaq gained 22 points to close at 2235. >>> chrysler is voluntarily recalling more than 350,000 minivans because of problems with crash sensors that control the air bags. the company says it will replace the sensors in 2005 and 2006 town and country and dodge caravans. but chrysler says it should wait until june to contact dealers because it needs time to distribute the...
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Feb 25, 2010
02/10
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there is a lot of anger and it almost cost bernanke getting reappointed. he came bearing gifts saying i will work with you, congress, on find ways of better disclosures from companies benefitting from the special lending programs--. >> warner: which he has resisted. >> he said aye find ways to do more auditing and review of what the fed does as long as you wall off monetary funding. >> warner: as you said, of course, harry reid, as we said in the setup, he is promising more. now, what are the prospects for getting additional bipartisan votes? did you have, i think, 13 republican s voting for the one today. getting additional bipartisan votes on some of the other job-stimulating measures reid would like to push through? >> i think it depends what they push with. i think reid is trying to put republicans on the spot over and over this year saying we want to pass something, we want a bipartisan vote, but you, republican senators, have to go back to your state why the unemployment rate is extremely high. i know you won't like this, but i'm going to dare you to
there is a lot of anger and it almost cost bernanke getting reappointed. he came bearing gifts saying i will work with you, congress, on find ways of better disclosures from companies benefitting from the special lending programs--. >> warner: which he has resisted. >> he said aye find ways to do more auditing and review of what the fed does as long as you wall off monetary funding. >> warner: as you said, of course, harry reid, as we said in the setup, he is promising more....
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Feb 25, 2010
02/10
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in general terms first, what exactly is chairman bernanke promising to look into? >> this has for the better part of the decade been the great big unknown, this world of derivatives which are largely unregulated secondary investment vehicles. they're almost train of thought. it's whatever an investment bank can come up with. we saw the derivative situation blow up with respect to a.i.g. where there was an oversight and now the concern not only here in the united states and in greece but in the rest of the world and in the capital markets is that the banks in parallel practice this with governments to help them duke the debts. >> brown: go back a few years to 2000, 2001. the first issue is whether and how these banks and financial institutions greece mask its true problems. how did they do that. >> greece in 2000, 2001, very much wants to become a euro member and to do that it has to be able to show its financial stability and a certain measure of austerity, it has to have, for example, a budget gap that is no more than whatever percentage limit was back then if it
in general terms first, what exactly is chairman bernanke promising to look into? >> this has for the better part of the decade been the great big unknown, this world of derivatives which are largely unregulated secondary investment vehicles. they're almost train of thought. it's whatever an investment bank can come up with. we saw the derivative situation blow up with respect to a.i.g. where there was an oversight and now the concern not only here in the united states and in greece but...
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Feb 4, 2010
02/10
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bernanke said that independence is key to keeping monetary policy focused on the long-term interests of the american people, and not political whims. >> susie: you've probably noticed that the prices you're paying at the pump are holding steady these days. but can we count on them to stay that way? well, that all depends on what happens to the price of oil. and, as suzanne pratt reports, forecasts for oil prices in 2010 are all over the map. >> reporter: at this gas station in midtown manhattan, gas prices are among the highest in the nation. whether they spike even higher, head lower, or stay in the same range this year depends on who you ask. j.p. morgan's lawrence eagles expects crude prices, which dictate gas prices, to climb higher. that's after averaging between $72 and $76 a barrel in the first half this year. >> moving higher in the second half, up to $88 by the end of the year and moving appreciably stronger in 2011. >> reporter: for eagles appreciably stronger means as high as $100 a barrel. his price predictions are based on a bullish outlook for t global economy. a health
bernanke said that independence is key to keeping monetary policy focused on the long-term interests of the american people, and not political whims. >> susie: you've probably noticed that the prices you're paying at the pump are holding steady these days. but can we count on them to stay that way? well, that all depends on what happens to the price of oil. and, as suzanne pratt reports, forecasts for oil prices in 2010 are all over the map. >> reporter: at this gas station in...
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Feb 28, 2010
02/10
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chairman bernanke needs to be out by 2:00. the gentleman from illinois. >> con dprat layingses on your reelection. the fdic reported yesterday that bank lending in 2009 fell by 7.75%. $587 billion in the washington journal said it was epic, the decline. there's a chart behind. why is bank lending falling so dramatically. it's falling because we are forcing to receive reserves. upon the committee room tv now is a chart from the oversite value report. increasing 700% since the first quarter of 2007. you'll notice from the chart that if the trend continues, the rate of free loans will soon be off that chart. the dramatic increase to me is really approaching a tsunami approaching our local communities. it is estimated to pique with over 300 billion expected to mature each year. 3.5 trillion, more held by banks and thrift. much held by the community banks that have survived the first part of the mortgage. now being threatened by this one. fdic yesterday added 450 banks to the troubled bank lits doubling the number from the start of
chairman bernanke needs to be out by 2:00. the gentleman from illinois. >> con dprat layingses on your reelection. the fdic reported yesterday that bank lending in 2009 fell by 7.75%. $587 billion in the washington journal said it was epic, the decline. there's a chart behind. why is bank lending falling so dramatically. it's falling because we are forcing to receive reserves. upon the committee room tv now is a chart from the oversite value report. increasing 700% since the first quarter...
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Feb 26, 2010
02/10
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thank you, chairman bernanke, for being here. i do share one concern that senator vitter mentioned about the deficit. gosh, i wish we would have supported senator gregg's proposal when we had a chance, i think it was still the best, perhaps last-best proposal to actually force this congress to take an up or down vote on a plan that would put us back into fiscal sanity. i'm going to come back on the question of financial regulation. .. >> one of the comments you made and we are now 18 months after the crisis and you've said you have looked at the fed within supervision of the bank holding companies stronger capital, stronger risk supervision. you know, we've had a lot of discussion over the last 18 months about size. we've talked a bit earlier, senator raise questions about the volcker rule. i share some of your concerns about how you draw those lines. chairman dodd raise the question about using some of the intimate out there in terms of derivatives. can you tell us a little bit in his last 18 months with this increased focus on
thank you, chairman bernanke, for being here. i do share one concern that senator vitter mentioned about the deficit. gosh, i wish we would have supported senator gregg's proposal when we had a chance, i think it was still the best, perhaps last-best proposal to actually force this congress to take an up or down vote on a plan that would put us back into fiscal sanity. i'm going to come back on the question of financial regulation. .. >> one of the comments you made and we are now 18...
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Feb 25, 2010
02/10
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WBAL
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ben bernanke will speak to the senate committee later this morning. the president of toyota will stay put. some executives have resigned following the scandal of the recalls. akio toyoda is the only person that can save toyota. he said the as a personal commitment to restore the trust of customers. blockbuster is closing at least 500 doors. it is looking for ways to restructure almost $1 billion of debt. consumers are turning to netflix and red box. back to you. >> thanks. >> coming up, in the look at your morning commute with traffic and weather together. >> the hockey venue at the olympics turned into stars on ice. see if team usa stays in contention for its first gold medal hopes. we will show you ♪ hey bets, can i borrow a quarter? sure, still not dry? trng to shrink them. i lost weight and now some clothes are too big. how d you do it? simple stuff. eating right and i switched to whole grain. whole grain... [ female announcer ] pele who more whole grai tend to have a healthier body weight. multigrain cheerios has who gins and 110 calories per s
ben bernanke will speak to the senate committee later this morning. the president of toyota will stay put. some executives have resigned following the scandal of the recalls. akio toyoda is the only person that can save toyota. he said the as a personal commitment to restore the trust of customers. blockbuster is closing at least 500 doors. it is looking for ways to restructure almost $1 billion of debt. consumers are turning to netflix and red box. back to you. >> thanks. >> coming...
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Feb 14, 2010
02/10
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CSPAN2
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we have four people in the operating room that we were very fortunate as a country we had hey, ben bernanke, tim geithner and sheila bair at head of the fdic. i know a lot of people in finance and business and government. i cannot think of four people who would have done a better job to get us through that. it is fashionable to look back and look at one little aspect of what was happening our country's financial system froze up during that period. some of you were at a party i was at september 2008 when the talk of what are the money market funds save? when you have 3.5 trillion of funds held by 30 million people who on a sunday night worry about whether they can get their money, that was half of all deposits. you have a panic. you have commercial paper frees up entirely and some of the biggest companies in the united states that are described, worried if they would be payrolls in a short period of time. the six largest bank in the country with domestic deposits washington mutual and the third largest bank, wachovia, needed of shock on a monday morning to survive. most interesting, but this
we have four people in the operating room that we were very fortunate as a country we had hey, ben bernanke, tim geithner and sheila bair at head of the fdic. i know a lot of people in finance and business and government. i cannot think of four people who would have done a better job to get us through that. it is fashionable to look back and look at one little aspect of what was happening our country's financial system froze up during that period. some of you were at a party i was at september...
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Feb 26, 2010
02/10
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in testimony before this committee yesterday, chairman bernanke recommended we take steps to determine the future of gse's this year. with american taxpayers exposed to hundreds of billions of dollars in losses from fannie mae and freddie mac continuing operations, do you agree with german bernanke that we cannot afford to wait until next year to decide the gse's future? Ñi>> i believe the time is now o figure out what the proper questions are to ask him what is the proper role the government in the housing system, what is the future structure and objectives of the housing and finance system that policy makers believe is in the best interests of the country and i believe there is plenty of important questions and it is time to start asking in working toward answers right now. with that said, i appreciate the difficulties and challenges in getting to that as of the counter and get into a formal structure. i understand that will take a while. i believe we should absolutely take the time to get it right. i would be happy to work with this committee to start going through what some of tho
in testimony before this committee yesterday, chairman bernanke recommended we take steps to determine the future of gse's this year. with american taxpayers exposed to hundreds of billions of dollars in losses from fannie mae and freddie mac continuing operations, do you agree with german bernanke that we cannot afford to wait until next year to decide the gse's future? Ñi>> i believe the time is now o figure out what the proper questions are to ask him what is the proper role the...
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Feb 24, 2010
02/10
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WJZ
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. >>> stocks rallied after federal reserve chairman ben bernanke told congress, record- low interest rates are still needed to help the economy. in his twice-a-year report to congress, bernanke said the economic recovery is still in the early stages and that moderate growth will only lead to a slow decline in the unemployment rate. >>> the ceo publicly apologized to the lapses that led to the recall of more than 8 million toyotas. akio toyoda admitted that the auto group grew too fast to stay on top of safety recalls. he says he is committed to regaining the trust of every consumer. >>> a report surprised economists who were expecting a rise in sales. while winter storms upon partly to blame, new home sales have fallen now for three straight months, despite low mortgage rates for some tax buyers. one in four homeowners owed more than their home was worth late last year. rising unemployment contributed to the rise of homeowners who are under water on their loans. for more money news, you can head to cbs money watch.com. in new york, i'm alexis christoforous. >>> coming up on wjz's eye
. >>> stocks rallied after federal reserve chairman ben bernanke told congress, record- low interest rates are still needed to help the economy. in his twice-a-year report to congress, bernanke said the economic recovery is still in the early stages and that moderate growth will only lead to a slow decline in the unemployment rate. >>> the ceo publicly apologized to the lapses that led to the recall of more than 8 million toyotas. akio toyoda admitted that the auto group grew...
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Feb 18, 2010
02/10
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CSPAN2
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eye 229
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, i don't know why we reappointed bernanke. in terms of the entitlement programs, yeah we have a public pension program, which is hugely popular. you look at polling day that-- i was at a conference this morning in social security is over 90%. they ask people would you be willing to pay higher taxes to sustain sosa security benefits and 70 to 80% said yes. i don't see any problem with running a pension program through the public sector. what is the problem with the? it is usually popular. health care costs, medicare again. we are providing medicare health care benefits for seniors. that is also hugely popular. you have these tea party people out there yelling don't let the government touch medicare. they are anti-government but they want medicare. medicare is a government program. these are success stories. our health care costs are out of line in such as security has not been rising in its share of the budget and it will in the near future is baby boomers are retiring and getting benefits. in fact it actually fell a few years
, i don't know why we reappointed bernanke. in terms of the entitlement programs, yeah we have a public pension program, which is hugely popular. you look at polling day that-- i was at a conference this morning in social security is over 90%. they ask people would you be willing to pay higher taxes to sustain sosa security benefits and 70 to 80% said yes. i don't see any problem with running a pension program through the public sector. what is the problem with the? it is usually popular....
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Feb 13, 2010
02/10
by
CNN
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bernanke, i have great admiration for him, and by the way, sanjay, you're doing great work in haiti. but stress can cause your arteries to constrict, it can cause the arteries to build up faster, it can cause blood clots to form that causes a heart attack. that's the bad news. but stress is not simply something you do, more importantly it's how you react to what you do. if you practice some simple stress management techniques, you can be in the same job, you can go to haiti, and not have it affect it. you can accomplish even more without getting so stressed and without getting sick in the process. >> larry: sanjay, do you understand why the president is so passionate about haiti? >> he's had an affinity for this place for a long time, larry. i interviewed him when he was down here and talked about haiti with him a few times in the past. he had his honeymoon here, as i know you've talked about, larry, so he's been thinking about haiti for a long time. i think he has a strong affinity not only to haiti but to the haitian people living in haiti and the united states, and he's talked abo
bernanke, i have great admiration for him, and by the way, sanjay, you're doing great work in haiti. but stress can cause your arteries to constrict, it can cause the arteries to build up faster, it can cause blood clots to form that causes a heart attack. that's the bad news. but stress is not simply something you do, more importantly it's how you react to what you do. if you practice some simple stress management techniques, you can be in the same job, you can go to haiti, and not have it...
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Feb 17, 2010
02/10
by
CSPAN2
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eye 107
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we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the money market funds saved. if we have 3.5 trillion fun missile by 30 million people who on is and they might are worrying about whether they can get their money that was half of all the process held by u.s. banks at the time you have a panic. you had commercial paper frees up entirely in the biggest companies of the united states and some are described in this book that worried whether they were going to meet their payroll and a short period of time to read the sixth largest bank in the country in terms of the domestic deposits, washington mutual failed over a weekend. y
we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the...
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Feb 25, 2010
02/10
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CNBC
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bernanke's going to stay liquid, he's going to stay accomodated for a good long time and that's a mixed message. the fed's really not going to tighten, not going to make things difficult for us and then again the credit and the economy still needs a little bit support. we kind of grind out 2010, i think that we end up higher on the year but it's going to be a tough road down. >> so, do we end higher overall, you say? >> i think so in the u.s. >> substantially higher? >> i think high single digits will probably be a reasonable expectations. >> and what would be the way given the various factors in china importantly, what is the way to play that? is that a cyclical recovery or something else. >> i think part of it will be cyclical recovery. i think that you want to step into a very global modest story right now. i think that china will continue to grow significantly, i was there last week for nine days, and you cannot have words to describe the frenetic pace. >> what would you take in industrials now. >> i think so, kind of lean forward, into industrials, play that global growth story. i
bernanke's going to stay liquid, he's going to stay accomodated for a good long time and that's a mixed message. the fed's really not going to tighten, not going to make things difficult for us and then again the credit and the economy still needs a little bit support. we kind of grind out 2010, i think that we end up higher on the year but it's going to be a tough road down. >> so, do we end higher overall, you say? >> i think so in the u.s. >> substantially higher? >>...
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Feb 14, 2010
02/10
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CSPAN2
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eye 137
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we have ben bernanke. we have tim geithner, and we had sheila bair, the head of the fdic. and i know a lot people in finance. i know a lot of people in business. i know a lot of people in government. and i can't think of four that would have done a better job of getting us through that. now it's kind of fashionable now to look back and pick out one little aspect or another of what was happening then, but our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008 when the talk was, are our money market funds safe? now, when you have 3.5 or more trillion of funds held by 30 million people, who on a sunday night are worrying about whether they can get their money, that money was half of all the deposits held by u.s. banks at the time. you have a panic. you had commercial paper freeze up entirely, and you had some of the biggest companies in the united states, and some of them are described in this book, to worry about whether they're going to meet their payrolls in a short bit of time. you had the sixth l
we have ben bernanke. we have tim geithner, and we had sheila bair, the head of the fdic. and i know a lot people in finance. i know a lot of people in business. i know a lot of people in government. and i can't think of four that would have done a better job of getting us through that. now it's kind of fashionable now to look back and pick out one little aspect or another of what was happening then, but our country's financial system froze up during that period. some of you in this room were...
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Feb 10, 2010
02/10
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WMPT
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chairman ben bernanke outlined the effort in written testimony for a congressional committee. bernanke said the economy still needs an easy money policy for now, but he added: "at some point the federal reserve will need to tighten financial conditions." the talk of higher rates kept wall street at bay. the dow jones industrial average lost 20 points to close at 10,038. the nasdaq fell three points to close below 2,148. thousands of workers in greece staged a national strike today, protesting a government plan to freeze salaries and cut bonuses. the 24-hour strike closed schools, and brought air travel to a halt. we have a report from john sparks of independent television news. >> reporter: it's easy to say, the 24-hour strike closed greece filed a test case for other indebted states. its huge socialist government plans been cuts. for many here on the streets of athens today it is not acceptable. "the capitalist government has declared war on the working classes. we will respond with war-like measures," said this mp. the government wants to raise the retirement age by two year
chairman ben bernanke outlined the effort in written testimony for a congressional committee. bernanke said the economy still needs an easy money policy for now, but he added: "at some point the federal reserve will need to tighten financial conditions." the talk of higher rates kept wall street at bay. the dow jones industrial average lost 20 points to close at 10,038. the nasdaq fell three points to close below 2,148. thousands of workers in greece staged a national strike today,...
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Feb 4, 2010
02/10
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WUSA
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. >>> as he was sworn in for his second term as head of the federal reserve ben bernanke said he is worried about the pace of our economic recovery. he told his staff today the economy is growing but there's still too little bank credit, too many foreclosures and too many people unemployed. meantime treasury secretary tim geithner says congress can claw back what he is calling an outageus new amount of bonuses for aig employees. they are all set to pay out bonuses despite being bailed out by the federal government last year. tim geithner says the government can recoup the money by instituting the new bank fee that president obama called for in his 2011 budget. but aig says those bonuses were negotiated before the company asked for the bailout. what do you think about that? is it an outrageous failure of policy or do the aig employees deserve the bonuses, after all they were promised them. send your e-mails to me. >>> winning the seat of senator ted kennedy. an attorney wants brown to be sworn in tomorrow. once he is sworn in, brown will end the democrats majority in the u.s. senate. but pre
. >>> as he was sworn in for his second term as head of the federal reserve ben bernanke said he is worried about the pace of our economic recovery. he told his staff today the economy is growing but there's still too little bank credit, too many foreclosures and too many people unemployed. meantime treasury secretary tim geithner says congress can claw back what he is calling an outageus new amount of bonuses for aig employees. they are all set to pay out bonuses despite being bailed...
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Feb 26, 2010
02/10
by
WUSA
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chairman bernanke said last week the time is not right to raise interest rates. if we do that it will slow down the economy and make things terrible for everybody. >> how long do you think -- how much more time do you think that people have a to make a deal on a house for the tax credit? >> it expires inning aweeks so if they want to do it, do it now. >> it is mind over money friday. the phone number is 202-432- 9045. taking your questions. free financial advice. give us a ring. >>> again we want to thank our guests for participating in this week's edition of mind over money. our panel isn't going away. they will take your calls for the next 30 minutes. ask james about the tax seminar. talk to ernest about planning your lifestyle and keeping it. great group of people. howard? >> we still have pretty many snow showers toward columbia and bwi and anne arundel county. winds are still howling. that will be the case. slowly dying off this afternoon. not a bad weekend. monday looks good and next wednesday, wilter is not over yet. watch for a possible coast alp don't ha
chairman bernanke said last week the time is not right to raise interest rates. if we do that it will slow down the economy and make things terrible for everybody. >> how long do you think -- how much more time do you think that people have a to make a deal on a house for the tax credit? >> it expires inning aweeks so if they want to do it, do it now. >> it is mind over money friday. the phone number is 202-432- 9045. taking your questions. free financial advice. give us a...
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486
Feb 18, 2010
02/10
by
CSPAN2
tv
eye 486
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, i don't know why we reappointed bernanke. in terms of the entitlement programs, yeah we have a public pension program, which is hugely popular. you look at polling day that-- i was at a conference this morning in social security is over 90%. they ask people would you be willing to pay higher taxes to sustain sosa security benefits and 70 to 80% said yes. i don't see any problem with running a pension program through the public sector. what is the problem with the? it is usually popular. health care costs, medicare again. we are providing medicare health care benefits for seniors. that is also hugely popular. you have these tea party people out there yelling don't let the government touch medicare. they are anti-government but they want medicare. medicare is a government program. these are success stories. our health care costs are out of line in such as security has not been rising in its share of the budget and it will in the near future is baby boomers are retiring and getting benefits. in fact it actually fell a few years
, i don't know why we reappointed bernanke. in terms of the entitlement programs, yeah we have a public pension program, which is hugely popular. you look at polling day that-- i was at a conference this morning in social security is over 90%. they ask people would you be willing to pay higher taxes to sustain sosa security benefits and 70 to 80% said yes. i don't see any problem with running a pension program through the public sector. what is the problem with the? it is usually popular....
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Feb 10, 2010
02/10
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WMAR
tv
eye 155
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the federal reserve will release a statement today outlining chairman ben bernanke's strategy for eventually raising rates from historic lows. the fed faces a delicate balancing act. are a rates too quickly and choke off the modest recovery. wait too long and spark inflation. no matter what the fed says it's months away from making changes. >>> the man who helped engineer the financial bailout says taxpayers will recover neve spent. henry paulsen open was interviewed by warren buffett. both agreed the government may turn a profit from the bailout. another reminder of just how tough the rob jacket is right now. the numbers show there were just under six unemployed people for every job opening and the problem may get worse before it gets better. a separate survey finds more small companies plan to cut workers rather than add them. add the camry to the list of toyotas experiencing brake problems. the automaker is recalling about 7300, 2010 camries because of a possible fluid leak that increases stopping distances. this came after toyota announced it's recalling half a million dollars hybrids an
the federal reserve will release a statement today outlining chairman ben bernanke's strategy for eventually raising rates from historic lows. the fed faces a delicate balancing act. are a rates too quickly and choke off the modest recovery. wait too long and spark inflation. no matter what the fed says it's months away from making changes. >>> the man who helped engineer the financial bailout says taxpayers will recover neve spent. henry paulsen open was interviewed by warren buffett....
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Feb 26, 2010
02/10
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CSPAN2
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eye 83
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bernanke, again. as our financial markets begin to show signs of improvement, many of the fed's temporary many facilities have been allowed to expire and monetary policy has begun to normalize. and while use of the temporary lending facilities wayne expanded purchases by the fed a federal agency debt mortgage-backed securities and the longer-term treasuries of security staff kept the size other than to balance sheet unusually large. as of last week, it's my understanding that the banks had over 1.2 trillion in reserve balances and federal reserve banks. that is more than 100 times the average level of such balances in 2006. this morning i am interested in hearing, mr. chairman, plans for reducing the size of the fed's balance sheet, with run a story liquidity support from the banking system, and continuing the normalization of monetary policy. in addition, i believe, mr. chairman, you should tell us how the fed plans to use interest on reserves as a monetary policy and how you intend to use repurchase
bernanke, again. as our financial markets begin to show signs of improvement, many of the fed's temporary many facilities have been allowed to expire and monetary policy has begun to normalize. and while use of the temporary lending facilities wayne expanded purchases by the fed a federal agency debt mortgage-backed securities and the longer-term treasuries of security staff kept the size other than to balance sheet unusually large. as of last week, it's my understanding that the banks had over...
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256
Feb 25, 2010
02/10
by
CNN
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ben bernanke back for round two, and stephanie elam back. another rally today? >> sorry, kyra, i don't think we will get a repeat one. >> that was a sarcastic, laugh. hell no, kyra. >> yeah, pretty much. we will not see the same picture. but bernanke will deliver the same testimony today but this time before the senate banking committee. yesterday, investors were happy to hear they were going to keep key interest rates for a while longer. they raised the discount rate on what they charge to banks, and if that happened it could slow the recovery and it's a precarious time for the economy. investors jumped up and cheered ben bernanke after he said he was staying the course. and then the debt problems in greece may be getting worse. as i was saying, we are looking for triple digit losses out the gate. and that's what we have. the dow off 137 points. and so no, as i was saying, no, not another rally, at least not to start. >> gosh, okay. shut me down. thank you, steph. definitive. there we go. let's move on. >>> hummer goes the way of pontiac, and stud baker. the de
ben bernanke back for round two, and stephanie elam back. another rally today? >> sorry, kyra, i don't think we will get a repeat one. >> that was a sarcastic, laugh. hell no, kyra. >> yeah, pretty much. we will not see the same picture. but bernanke will deliver the same testimony today but this time before the senate banking committee. yesterday, investors were happy to hear they were going to keep key interest rates for a while longer. they raised the discount rate on what...
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158
Feb 11, 2010
02/10
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CSPAN2
tv
eye 158
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bernanke, and new york feds decided to give additional funds to aig. some of which we used to pay the counterparties to the contracts; right? >> yes, in november, in the t.a.r.p., we made a $40 billion capital investments, and then the fed put some additional money into which was used up for the contracts. >> just so we are clear, when we were giving credit here, the t.a.r.p., the $700 billion in t.a.r.p. was during your term as secretary of the treasury. >> implode of that, sir. >> that was your ideaing the t.a.r.p.? >> it was a number of ideas. it was something i'm proud of and it was necessary. >> and the $85 billion that was loined -- loaned to aig was not done through congress? >> no, that was a decision taken by the fed. >> what source did they use? >> they used their funds. >> and their funds, they emanate from where? >> from the u.s. government. >> where they fees from other banks, they come from your treasury, where? >> they come from fed obviously can print money. >> did they take money that they had from fees charged to number bank or print
bernanke, and new york feds decided to give additional funds to aig. some of which we used to pay the counterparties to the contracts; right? >> yes, in november, in the t.a.r.p., we made a $40 billion capital investments, and then the fed put some additional money into which was used up for the contracts. >> just so we are clear, when we were giving credit here, the t.a.r.p., the $700 billion in t.a.r.p. was during your term as secretary of the treasury. >> implode of that,...
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Feb 25, 2010
02/10
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CSPAN
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eye 150
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chairman bernanke, i think chairman frank mentioned the deficit in passing and the debt. that is what i want to ask you about. that is the elephant in the room. we have reduced our debt is going to double in the next five years, a triple in the next 10 years. it is fueled by historic deficits. i heard this morning on television that we have many cases across the united states and children and adults that are walking out on thin ice. they walked out day after day and they get some comfort and nothing happens. the thin ice is dangers. i submit that this type of budget half is a dangerous. i would ask you -- i do not believe that our present budget passed is sustainable. my first question, it is our budget path sustainable? secondly, is there a need for the congress to come up with a concrete plan to change p that the toath? do you believe there is urgency in that? >> you asked about sustainability. you are talking of the medium term charge of a deficit that remains after the economy has returned to normal levels of activity. estimates of the sexual deficit range from 4% up
chairman bernanke, i think chairman frank mentioned the deficit in passing and the debt. that is what i want to ask you about. that is the elephant in the room. we have reduced our debt is going to double in the next five years, a triple in the next 10 years. it is fueled by historic deficits. i heard this morning on television that we have many cases across the united states and children and adults that are walking out on thin ice. they walked out day after day and they get some comfort and...
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219
Feb 27, 2010
02/10
by
CSPAN
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eye 219
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bernanke wÑiith his loose money policy. one question i like to ask, does the fed realize çóthe terribly destructive impact that you had on -- on savers and frugal people in this coaintry by reducing theirÑi interest incom to below, really, real negative interest rates while the crank ud sters that created the problem are being rewarded? >> and i understand the from us -- your from ustation and i do think that -- onsj of the issu that i have dÑiealt with is howe bring interest rates back to -- to a more long-term sustainable %uá)qr)Ñi extreme lilo, obv]iously, unsu)wtÑtainable le a.m. -- aÑind there are some disagreements, that's one thing about a commit phi liket( the on market committee where you can have differing views and do i share a different view. i think we should be -- going back to a more normal level sooner rare than later and as i said in my public speeches and i think i'máqsóot, my concern is that -- in terms of, the last time i voted iÑi dissçóented on usage of the word extended period. in a posi
bernanke wÑiith his loose money policy. one question i like to ask, does the fed realize çóthe terribly destructive impact that you had on -- on savers and frugal people in this coaintry by reducing theirÑi interest incom to below, really, real negative interest rates while the crank ud sters that created the problem are being rewarded? >> and i understand the from us -- your from ustation and i do think that -- onsj of the issu that i have dÑiealt with is howe bring interest rates...